Oil's optimum priceWith the run up in prices the last few months due mainly to the OPEC+ countries supply restrain, a lot of consumers went on buyers' strike and started boycoting oil supplies from Saudy Arabia and other M East oil producers. India, and China reduced oil imports drastically and started using oil from their reserves. At the same time the U S started putting pressure on S Arabia and UAE to settle their spat and increase supply. Yet the EU would like to see high prices so they could make the transition to EV's faster. But high oil prices would fuel inflation. So a middle ground had to be found; and an optimum price of around $70 +- $5 had to be for WTI . That would presumably keep both consumers and producers happy. So expect in the near future a price range between 70-75 $US. This price range of course is contingent that the Covid epidemic will come under control or the supply consrains will continue.